West Cove Ventures, an affiliate of Warburg Pincus, acquired a majority interest in the parent company of The Grand Ho Tram Strip, a hotel and casino resort located in Vietnam. The transaction was completed by way of plan of arrangement under the law of British Columbia.
The transaction, completed by way of Plan of Arrangement under BC Law, included an initial subscription of shares by West Cove, forgiveness and conversion of substantial debt and equity by certain shareholders, and a recapitalization of the company which owns the Grand Ho Tram Strip, a hotel resort and casino located in Vietnam.
Total value of deal: approximately $395 million (subscription price plus debt forgiveness).
MEP Business Counsel, represented Asian Coast Development (Canada) Ltd. with Marshall Pawar (lead counsel), Jennifer MacGregor-Greer (corporate/M&A) and Zakhir Nathoo (corporate /M&A)
Borden Ladner Gervais LLP represented former controlling shareholder, Harbinger Capital, with Anthony Milazzo (lead counsel, corporate) and Danny Lang (Tax).
Latham & Watkins LLP represented West Cove Ventures with Amy Beckingham (lead counsel), Gwenlynne Lee (corporate/M&A) and Nathan Ma (corporate/M&A)